MOSCOW TIME: 18.07.2018 13:21:40

Economy

Russia to increase domestic aluminum consumption by 300,000 tonnes in 2018

Russia to increase domestic aluminum consumption by 300,000 tonnes in 2018

Russia will boost domestic consumption of aluminum by 300,000 tonnes this year.

"We have about one million [tonnes of aluminum consumed in Russia in 2017 - TASS]. 300,000 tonnes will be added this year," Minister of Industry and Trade Denis Manturov said.

The domestic consumption volume can grow to 2.5 mln tonnes in five years, the minister added.

"We proceeded from and prepared the range of products we are manufacturing. Therefore, colleagues - consumers will always have an option: either to buy expensive but imported machines or to buy cheaper Russian ones," the minister said.

Following introduction of steel (25%) and aluminum (10%) duties by the United States in March 2018, Russia introduced additional import duties on US road construction machinery, oil and gas equipment and optic fiber with the rate from 25 to 40%


Source:www.tass.com

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